Marketplace lending

This year saw elation over the rollback of risk retention for CLOs give way to concerns about leveraged lending, the 1st post-crisis downgrade of a subprime auto deal, the 1st AAA for commercial PACE, and much, much more.

The state has expanded the scope of ongoing legal actions against Avant and Marlette to include several securitization trusts and trustees.

The online lender will roll out the business early next year with a focus on loans of less than $100,000.

An agency report said servicing portfolios have shrunk by nearly half in 10 years as much of the mortgage market has shifted to nonbanks.

This marketplace lender's third securitization of the year again features fewer 60-month loans, slightly higher FICOs and lower coupons.

Social Finance, the lending and refinancing startup valued at more than $4 billion, is cutting about 7% of its staff, according to a person familiar with the matter.

The San Francisco company, which has racked up big losses over the last two and a half years, signaled Tuesday that it is on a path to profitability after resolving a series of longstanding regulatory problems.

The New York-based online lender plans to spend an additional $15 million next year, largely on bank partnerships and international expansion.

Marlette sharply reduced the share of sub-700 FICO borrowers, while also tightening a trigger tied to cumulative loss rates to enhance investor protections.

It's the first time any of the rating agencies has assigned an AAA for any securitization of consumer loans by a marketplace lender.